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congressional budget office that for the first time since president obama has been in office, we can see a deficit under $1 trillion. $884 billion is what they are suggesting. they think unemployment will go up through the next couple of years, but federal revenue, the amount of money coming into the government going up by 25%, in part, because of the fiscal cliff deal. also because the economy is improving. richard? >> tracie, we'll take under 1 trillion right now. thank you. >>> a major decision expected today from the boy scouts of america. national board members set to vote on whether to lift a decade's long band on gay leaders and scouts. the final day of a three-day meeting of officials. a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president obama said over the weekend that scouting should be open to everyone while texas governor rick perry expressed the opposite opinion. if board members scrap that policy, they will be able to decide for themselves to admit gays to their ranks there. >>> on the heels of t
congressional budget office that for the first time since president obama has been in office, we can see a deficit under $1 trillion. $884 billion is what they are suggesting. they think unemployment will go up through the next couple of years, but federal revenue, the amount of money coming into the government going up by 25%, in part, because of the fiscal cliff deal. also because the economy is improving. richard? >> tracie, we'll take under 1 trillion right now. thank you....
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they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the house of representatives has not once but twice passed legislation that would replace the sequester and the deep defense cuts which do cause damage to our national security and our readiness with other cuts also in the budget. and that is something that has been rejected by the democrats here on capitol hill and by the president. >> greta: what i don't get is the gal to come out and ask for mother delay. i can't delay showing up for my job and neither canmy american. we can't keep asking for the delays and he says the economy is headed in the right direction. maybe
they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the...
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will it bust the rainfall deficit? no. only .25" of rainfall. buttoned of the week will be showery both thursday and friday with a chance of showers. a little bit of fog tomorrow morning along the coast north bay valleys, then we're sunny. showers will get here thursday morning. we will have on-and-off showers for two days both thursday and friday. highs tomorrow upper 50s close to average. but with the breeze it will feel chilly. 58 concord and san jose. palo alto tomorrow 57. pleasant hill 59. hump day san ramon 57 degrees. napa 58. and mid-50s for kentfield, mill valley, sausalito and san francisco. we are looking at an extended forecast with that chance of showers on thursday and friday. over the weekend, here comes the sunshine once again. but it will still be brisk upper 50s, low 60s. next week we are dry once again. we'll be right back. well, well, well. growing up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording her dumb show and dad
will it bust the rainfall deficit? no. only .25" of rainfall. buttoned of the week will be showery both thursday and friday with a chance of showers. a little bit of fog tomorrow morning along the coast north bay valleys, then we're sunny. showers will get here thursday morning. we will have on-and-off showers for two days both thursday and friday. highs tomorrow upper 50s close to average. but with the breeze it will feel chilly. 58 concord and san jose. palo alto tomorrow 57. pleasant...
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the sequester is designed to get the deficit under control, but economists are worried that the cuts are so deep, they'll trigger a recession. today, the president called on congress to pass a budget package to avoid the sequester or at least delay the shock. >> if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until congress finds a way to replace these cuts with a smarter solution. >> pelley: in an interview on sunday, we asked the president about all of this. we found out last week that the economy actually shrank in the last three months of last year. if the federal spending cuts that are on tap for march actually take effect, will that push the country into recession? >> i don't know if it will push the country into recession, but here's what we know. the reason that the economy shrank a little bit, despite the fact that housing is recovering, manu
the sequester is designed to get the deficit under control, but economists are worried that the cuts are so deep, they'll trigger a recession. today, the president called on congress to pass a budget package to avoid the sequester or at least delay the shock. >> if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically...
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for the first time since president obama took office, the federal deficit will drop below $1 trillion. last friday the down jones closed above 14,000 for the first time in five years. january brought modest job growth and drug dripping gains. for 10 scek tough months -- consecutive months housing prices have gone up. >> we sold 43 homes in the month of january, the best january since twief. >> reporter: the president warned congress to avoid self-inflicted wounds that could stall the economy. karen travers, abc2 news, washington. >>> scammers started making threatening phone calls after a woman turned down a bogus offer. >>> it was probably just a joke but a niner fan could get into trouble after a stunt. the consequence he could face for pointing a laser at a news helicopter. my achy feet made it tough to play with billy. until he got his number. right! the machine showed me my pressure points on my feet, and it gave me my custom number. my arches needed more support. in two minutes, the dr. scholl's foot mapping center showed me my free foot map and my number. i'm a 440. that matche
for the first time since president obama took office, the federal deficit will drop below $1 trillion. last friday the down jones closed above 14,000 for the first time in five years. january brought modest job growth and drug dripping gains. for 10 scek tough months -- consecutive months housing prices have gone up. >> we sold 43 homes in the month of january, the best january since twief. >> reporter: the president warned congress to avoid self-inflicted wounds that could stall...
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but that we're looking at the smallest budget deficit since president obama has been in office, well under $1 trillion at $845 billion. and they say federal revenue, going up 25% in part because of that fiscal cliff deal. >>> well, a major decision expected from the boy scouts of america. national board members set to vote on whether to leave the decades-long ban on gay leaders and scouts. in texas, it is a controversial issue drawing fire from both sides and putting one of the country's largest youth organizations under a microscope. president obama said over the weekend scouting should be open to everyone while texas governor rick perry expressed the opposite opinion. local scout units will be able to decide on whether to leave gays to their ranks. and on the heels, the pentagon is announcing a policy shift. leon panetta is expected to expand some benefits to granting access to various spots on bases are said to be included. however, it remains droughtful that mental, dental, housing allowances would be offered under the new proposal. an extension of those benefits would require an
but that we're looking at the smallest budget deficit since president obama has been in office, well under $1 trillion at $845 billion. and they say federal revenue, going up 25% in part because of that fiscal cliff deal. >>> well, a major decision expected from the boy scouts of america. national board members set to vote on whether to leave the decades-long ban on gay leaders and scouts. in texas, it is a controversial issue drawing fire from both sides and putting one of the...
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of the house john boehner rejected that, saying republicans want a bigger agreement on a long-term deficit reduction plan. the white house also announced today president obama will be going to israel this spring for the first time since taking office. israeli media say he's due to arrive march 20th, though the white house would not confirm any of the travel dates. >>> we are learning much more tonight about the breaking story we brought you here last night. the dramatic rescue of a 5-year-old boy after a standoff in alabama that lasted almost a week. nbc's gabe gutierrez is with us tonight from midland city, alabama. gabe, good evening. >> reporter: brian, good evening. today ethan's mother broke her silence. in a written statement she said, i woke up this morning to the most beautiful sight, my sweet boy. i can't describe how incredible it is to hold him again. at the hospital today, there were no signs of the ordeal young ethan, seen here in earlier photos, has been through. >> he was running around the hospital room, putting sticky notes on everyone that was in there, eating a turkey sa
of the house john boehner rejected that, saying republicans want a bigger agreement on a long-term deficit reduction plan. the white house also announced today president obama will be going to israel this spring for the first time since taking office. israeli media say he's due to arrive march 20th, though the white house would not confirm any of the travel dates. >>> we are learning much more tonight about the breaking story we brought you here last night. the dramatic rescue of a...
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indicated they will let the automatic cuts take effect if there's no long-term agreement to reduce the deficit. both cuts would take a bite out of military and domestic spending programs including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> on the "cbs moneywatch" now, overseas markets got a boost and postal problems. ashley morrison is here in new york with that and more. good morning, ashley. >> and good morning do you, anne-marie. well top official's resignation from the bank of japan spurred the market this morning. tokyo's nikkei jumped 3% to close out a four-year high while hong kong's hang sang sank half a percent. the dow shot up 99 points to close at 13,979 while the nasdaq gained 40 points. >>> the end of an era at the post office may be near. after losing $16 billion last year, the post master general is expected to announce today plans to cut costs. one plan mentioned in the past includes saturday mail. it's trimmed its work force by 35%. >>> rumors about dell giving up on wall street and going private are true. the struggling computer company announce
indicated they will let the automatic cuts take effect if there's no long-term agreement to reduce the deficit. both cuts would take a bite out of military and domestic spending programs including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> on the "cbs moneywatch" now, overseas markets got a boost and postal problems. ashley morrison is here in new york with that and more. good morning, ashley. >> and good morning do you, anne-marie. well...
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if you combine those things together then we cannot only reduce our deficit but we can continue to invest in things like education and research and development that are going to help us grow. >> pelley: without raising rates again? >> without raising rates again. >> pelley: the president also made news with his opinion on the boy scouts. the national board of the boy scouts of america may decide this week whether to end its long-standing ban on gays in scouting. should scouting be open to gays? >> yes. >> pelley: why so? >> well because i think that my attitude is that gays and lesbians should have access and opportunity the same way everybody else does. in every institution and walk of life. and, you know, the scouts are a great institution that are promoting young people and exposing them to opportunities and leadership that will serve people for the rest of their lives. i think nobody should be barred for that. >> pelley: the scouts decide by wednesday. one of the oldest missing persons cases in history has been solved. how did a murderer with a history of mental illness get permits to
if you combine those things together then we cannot only reduce our deficit but we can continue to invest in things like education and research and development that are going to help us grow. >> pelley: without raising rates again? >> without raising rates again. >> pelley: the president also made news with his opinion on the boy scouts. the national board of the boy scouts of america may decide this week whether to end its long-standing ban on gays in scouting. should...
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he suffers apparently from a mild form ofs an purchasinger's syndro syndrome, attention deficit disz order. what do they need to do to get this boy going, restart his life? >> it's going to be a bit complicated. first of all, by the fact that he does have asperger's. the problem there is oftentimes, as many people know, that means that there's difficulty with communication skills. and one the things that is going to be especially difficult is to get him to be able to verbalize in a very nuanced way what he needs to say about what happened. i think that's going to be their biggest hurdle. getting him to talk about the trauma. it's going to have to take place in his time, when he feels like talking about it. so the first thing is they're going to need to take him to a place where he feels very, very safe. the fact that he was ripped from that bus under those circumstances means that his sense of safety, potentially, could be compromised almost for the rest of his life. a stain of that memory. so trying to reach him verbally, making him safe, letting him know that the people who were ta
he suffers apparently from a mild form ofs an purchasinger's syndro syndrome, attention deficit disz order. what do they need to do to get this boy going, restart his life? >> it's going to be a bit complicated. first of all, by the fact that he does have asperger's. the problem there is oftentimes, as many people know, that means that there's difficulty with communication skills. and one the things that is going to be especially difficult is to get him to be able to verbalize in a very...
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this is part of an effort to cut the massive budget deficit faced by the postal service. >> i do not have any e-mail and a computer to be honest about it. i do rely on the u.s. post office mail. he is not happy about the upcoming changes that take effect august 1st. chicago district post offices will you to know that the other saturday services will continue. if you're giving medicine on saturday you're going to continue to get your medicine on saturday. if you're looking for a package from saturday you'll continue to see that package on saturday. and they're hoping that they will be able to phase this in. through attrition there might be summed elimination. we are hoping there will not be any massive changes. we hope to talk to the unions later on in the day. we will have the very latest in the evening as. law >> i've with more on why there was a delay the police are crediting several agencies as working together. he is arrested monday over seven hours. police said witnesses able to provide a description of the suspect. more importantly that witness was able to give them a partial l
this is part of an effort to cut the massive budget deficit faced by the postal service. >> i do not have any e-mail and a computer to be honest about it. i do rely on the u.s. post office mail. he is not happy about the upcoming changes that take effect august 1st. chicago district post offices will you to know that the other saturday services will continue. if you're giving medicine on saturday you're going to continue to get your medicine on saturday. if you're looking for a package...
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he was taken to a hospital to be checked-- he suffers from asperger's syndrome and attention deficit disorder. officials are declining to release details about todays raid. but say, they decided to carry it out because the boy faced imminent danger. after dykes was seen with a gun. still no word on exactly how the gunman died. >> jacqueline: the fog is going to be returning >> jacqueline: the fog is going to be returning bec[ female announcer ] safeway presents real big deals of the week. or how to get great prices on things you need. you look around for the best deals. that's why we give you real big club card deals each week. right now best foods mayonnaise is just $2.77. so pile it on. pizza is served. digiorno pizza is just $3.88. and here's a treat. dreyer's ice cream is only $2.88. real big deals this week and every week. only at safeway. ingredients for life. growing up, we didn't have u-verse. we couldn't record four shows at the same time. in my day, you were lucky if you could record two shows. and if mom was recording her dumb show and dad was recording his dumb show then,
he was taken to a hospital to be checked-- he suffers from asperger's syndrome and attention deficit disorder. officials are declining to release details about todays raid. but say, they decided to carry it out because the boy faced imminent danger. after dykes was seen with a gun. still no word on exactly how the gunman died. >> jacqueline: the fog is going to be returning >> jacqueline: the fog is going to be returning bec[ female announcer ] safeway presents real big deals of the...
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budget office is predicting high unemployment continued through 2014 but, this is a big but, a lower deficit, the smallest since president obama's been in office, well under $1 trillion. they attribute that to an improving economy and to the fiscal cliff deal. veronica. >> tracie potts, thank you. >>> a major decision expected from the boy scouts of america. national board members set to vote on whether to lift the decade long ban on guy leaders and scouts. it comes after a meeting at the texas headquarters. it is a controversial issue from both sides and putting one of the largest youth organizations under a microscope. scouting should be open to everyone. texas governor rick perry expressed the opposite opinion. board members choose to scrap the policy, local scout units will be able to decide for themselves on whether or not to admit gays to the rankings. >>> on the heels of the boy scouts decision, the pentagon is announcing a policy shift for guy service members and partners. leon panetta expected to extend benefits to partners of personnel. it remains doubtful that medical, down theal
budget office is predicting high unemployment continued through 2014 but, this is a big but, a lower deficit, the smallest since president obama's been in office, well under $1 trillion. they attribute that to an improving economy and to the fiscal cliff deal. veronica. >> tracie potts, thank you. >>> a major decision expected from the boy scouts of america. national board members set to vote on whether to lift the decade long ban on guy leaders and scouts. it comes after a...
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indicated they will let the automatic cuts take effect if there's no long-term agreement to reduce the deficit. both cuts would take a big bite out of military spending and domestic programs including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> we're learning more about the dramatic rescue of that young alabama boy held hostage for a week. the boy identified only by his first name, ethan, celebrated his sixth birthday today. when the fbi stormed the bunker where he was held by his captive, the suspect opened fire. the suspect jimmy lee dykes was killed in that fire fight. dykes was accused of killing ethan's bus driver before kidnapping the boy and it appears he was prepared for a raid. investigators found a bomb in the bunker and one in the pipe dykes used to communicate with the authorities. marlie hall reports. >> reporter: investigators are still gathering and processing evidence from the underground bunker where suspect jimmy dykes held ethan captive. the fbi's hostage rescue team stormed into the bunker monday, set off flash grenades, and then shot and kille
indicated they will let the automatic cuts take effect if there's no long-term agreement to reduce the deficit. both cuts would take a big bite out of military spending and domestic programs including a 2% hit to medicare. danielle nottingham, cbs news, the white house. >>> we're learning more about the dramatic rescue of that young alabama boy held hostage for a week. the boy identified only by his first name, ethan, celebrated his sixth birthday today. when the fbi stormed the bunker...
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deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate will remain above 7.5%. that would make 2014 the 6th year in a row with unemployment so high. the longest such period in 70 years. martha: the unemployment rate has been above 7% since december of 2008. and most recent monthly number ticked up from 7.9% from 7.8%. not a good trend. when you look at some of these numbers it makes it a tough argument for economic recovery. but the president remains convinced we are starting to see it. gregg: poverty is up. incomes are down. so the arrow is going the wrong way. in the meantime president oba
deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate...
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experts say the deficit could drop by 2015. >> today, british parliament legalized same-sex marriage that7:ru:u&d allow couples to get married in both civil and religious ceremonies if instit yug as agree to it. it needs to pass a final vote next week. the u.s. military appears ready to extend benefits to same-sex partners of service members. a final decision has not been made on which benefits would be included. pentagon is likely to aallow the partners to have access to some programs. the pentagon repealed a ban on openly gay service men and women 16 months ago stit of florida's python challenge seems to beç&ój paying dividen. the commission says 50 nonnative pythons have been captured during the first three weeks of the competition. officials organized this contevt to raise awareness about the snake's threat to wildlife. about 1500 participants joined the hunt, it ends next week. the person corralling the longest python wins $1500. and those are large. >> coming up, baby boomers living longer than parents but are they living longer. >> and a teenager's attitude gets her in trou
experts say the deficit could drop by 2015. >> today, british parliament legalized same-sex marriage that7:ru:u&d allow couples to get married in both civil and religious ceremonies if instit yug as agree to it. it needs to pass a final vote next week. the u.s. military appears ready to extend benefits to same-sex partners of service members. a final decision has not been made on which benefits would be included. pentagon is likely to aallow the partners to have access to some...
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president obama says he needs more revenue to cut the deficit. he says he's talking about closing tax loopholes ones that benefit high income earners. the president was in minnesota today to talk about gun control. he asked members of his audience in minneapolis to press congress to take actions on proposals such as universal background checks for gun booirs. former official of the united nations nuclear energy says iran will produce enough fuel to make a nuclear bomb every two months. iran has not decided whether to pursue nuclear weapons. special report in washington starts. >> moments ago we heard from law enforcement and aut thoefrities regarding the release of the 5-year-old little boy who has been held captive for 7 days in alabama. let's go to jonathan for the latest. >> kimberly certainly some significant developments here mid afternoon people at the press site heard some sort of a boom. at the time we couldn't tell whether it was gun fire an explosion or a truck door shutting. it got everybody's attention we started hetding over looking
president obama says he needs more revenue to cut the deficit. he says he's talking about closing tax loopholes ones that benefit high income earners. the president was in minnesota today to talk about gun control. he asked members of his audience in minneapolis to press congress to take actions on proposals such as universal background checks for gun booirs. former official of the united nations nuclear energy says iran will produce enough fuel to make a nuclear bomb every two months. iran has...
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and tell him we love him. >> we had also seen reports that he may have asperger's or also attention deficit disorder, that he may have had a couple challenges like that. did you ever see anything like that? do you think -- how will that impact him here as he starts down this path of healing? >> well, i honestly believe that ethan will probably -- it's a shame that this had to happen but for any child that i believe will bounce back better than any child i know of, would be ethan. he meets no strangers and i just feel confident he's going to bounce back and we hope to have him in school as quickly as possible. >> so special that you say that. i want to ask you a little about his mother. you just heard me share the statement that she released to the media which was so eloquent and gracious. she also, according to a state senator, said this when the fbi, they were debating whether to go in and kill jimmy lee dykes earlier. she was the one, according to the state senator who said she put her hand on the officer's heart and said sir, don't hurt him, he's sick. smith told that today to abc news.
and tell him we love him. >> we had also seen reports that he may have asperger's or also attention deficit disorder, that he may have had a couple challenges like that. did you ever see anything like that? do you think -- how will that impact him here as he starts down this path of healing? >> well, i honestly believe that ethan will probably -- it's a shame that this had to happen but for any child that i believe will bounce back better than any child i know of, would be ethan. he...
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we'll get some showers, but anything to put a dent in our rainfall deficit i don't see coming from the system. we'll talk about any other chance was rainfall coming up. >>> checking bay area headlines, muni is blaming a stray bolt for a cable car accident that sent seven people to the hospital. it stopped the train abruptly. investigators are trying to particular out how the bolt got into the track. >>> workers at a uc berkeley office in emeryville are trying to figure out why a bomb threat was phoned in. it forced the evacuation of two buildings this morning. an intensive search turned up nothing. >>> investigators are looking for the source of a fatal fire in san leandro. the body of a man was found inside the burning home on neptune drive just before dawn. first responders performed cpr but could not revive him. >>> the dot com hiring boom is back. the growth is not just high-tech. the technology hiring is having a ripple effect fuelling a sunge in -- surge in construction too. and that means materials are needed and a workforce to supply them. >> reporter: from garden to paint to h
we'll get some showers, but anything to put a dent in our rainfall deficit i don't see coming from the system. we'll talk about any other chance was rainfall coming up. >>> checking bay area headlines, muni is blaming a stray bolt for a cable car accident that sent seven people to the hospital. it stopped the train abruptly. investigators are trying to particular out how the bolt got into the track. >>> workers at a uc berkeley office in emeryville are trying to figure out why...
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>> bill plante, thanks. >> the congressional bucket office is predicting they'll drop the deficit. but that will only happen if there's no deal to head off the automatic spending cuts known as the sequester. they project the economy would only grow 1.4% and economy 1.8%. >>> republicans say the latest offer is nothing new and means higher taxes. the president believes the cuts would hurt the economy and he's willing to settle for a short-term fix. >> if congress can't act immediately on a bigger package, if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe they should at least pass a smaller package of spending cuts and tax reforms that would delay the economic damaging effects of the sequester for faw more months until congress finds a way. >>> cbs political news director john dickerson. john, good morning. another deadline in washington, another proposal for a short-term fix without any specifics about how to do it and thousands of people facing job loss. is this about the president trying to gain the political upper han
>> bill plante, thanks. >> the congressional bucket office is predicting they'll drop the deficit. but that will only happen if there's no deal to head off the automatic spending cuts known as the sequester. they project the economy would only grow 1.4% and economy 1.8%. >>> republicans say the latest offer is nothing new and means higher taxes. the president believes the cuts would hurt the economy and he's willing to settle for a short-term fix. >> if congress can't...
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its record debts and deficits we would have a blueprint for spending. >> greta: it's the job and the law. i realize others before him going back to president johnson have ignored it, but the rest of it, we follow the law and do our job. why is this like it's okay to do it? there is no management when you don't meet these criteria? >> maybe because other than this show tonight, you look at a lot of pressure. it's a pattern, too. there are five other examples that i can point to that the president has not met a deadline. one is report how the sequester supposed to work, it's not done. they have missed most of their mid session reviews which is the midyear, mid-july deadline. they have also missed the chinese currency report and more recent the medicare trigger. you are supposed to have a proposal how to reform medicare. they ignored it. finally the regulatory agenda, two times a year, they put it off. finally issued two days before. >> greta: the house and senate signed a bill to suspend the debt ceiling until may. that is called suspending the debt ceiling, you raise the debt ceiling
its record debts and deficits we would have a blueprint for spending. >> greta: it's the job and the law. i realize others before him going back to president johnson have ignored it, but the rest of it, we follow the law and do our job. why is this like it's okay to do it? there is no management when you don't meet these criteria? >> maybe because other than this show tonight, you look at a lot of pressure. it's a pattern, too. there are five other examples that i can point to that...
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Feb 5, 2013
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to pay down the deficit. and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be finished before march 1st, and unfortunately that's the date when a series of harmful automatic cuts to job-creating investments and defense spend, also known as sequester, are scheduled to take effect. so, if congress can't act immediately on a bigger package, if they can't get a bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a
to pay down the deficit. and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans, as well as independents, have the same view. and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be...
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Feb 4, 2013
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if you combine those things together, then we can not only reduce our deficit, but we can continue to invest in things like education and research and development that are going to help us grow. washington cannot continually operate under a cloud of crisis. that freezes up consumers. it gets businesses worried. we can't afford these self-inflicted wounds. there is a way for us to solve these budget problems in a responsible way through a balanced approach that the vast majority of people agree with. if we do that there's no reason why. we can't have strong growth in 2013. we can't have washington dysfunction getting in the way. >> charlie, it's interesting to hear the president say they do need additional revenue, but it's not going to come from raising rates again. that will be sort of this next battle they're fighting. >> closing loopholes. >> and also the president is going to be heading to minnesota for a push for stronger gun control laws. that will be the next thing on his agenda. >>> new details are emerging from a natural gas facility in algeria. the siege left 27 foreign work
if you combine those things together, then we can not only reduce our deficit, but we can continue to invest in things like education and research and development that are going to help us grow. washington cannot continually operate under a cloud of crisis. that freezes up consumers. it gets businesses worried. we can't afford these self-inflicted wounds. there is a way for us to solve these budget problems in a responsible way through a balanced approach that the vast majority of people agree...
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Feb 12, 2013
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deficits. i think we know he's going say we're not going to increase deficits. this won't cost the american people a dime. how do you do big programs without costing anything? doing that either suggests you're going to make serious trade-offs cut somewhere else to spend here or do small symbolic stuff. >> woodruff: the white house is already putting out some advanced text saying that these are things... some of the things he wants to do are not going to cost the taxpayers anything. both of you have mentioned the inaugural address. we hear from the white house that the president is not just talking to the members of congress in the chamber. he's talking to millions of americans who have everything at stake. >> you could say to some degree the audience is the 48% who did not vote for him. in the sense that what he says to them. but really the true sense tonight is the people who are listening are those who support, admire and identify with the president. that's the case with every state of the un
deficits. i think we know he's going say we're not going to increase deficits. this won't cost the american people a dime. how do you do big programs without costing anything? doing that either suggests you're going to make serious trade-offs cut somewhere else to spend here or do small symbolic stuff. >> woodruff: the white house is already putting out some advanced text saying that these are things... some of the things he wants to do are not going to cost the taxpayers anything. both...
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as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets, none of which have ever come to balance. the house republicans have acted responsibly, our budget is yet to balance, so what we will do is put together a budget that balances in a ten-year time. all it does tomorrow it says to the president tell us when you'ryourbudget balances. it is important to do that because we have our principled solutions with the program. liz: used a dozen state when the budget would be balanced, is that it? >> we have had to end dollars deficit of the past four years in the past for budgets by this president have never come into balance ever in the 75
as the president talks up, how to reduce the deficit and avoid spending cuts. we're learning the budget deficit will top $845 billion this fiscal year even with massive tax hikes and assuming the spending cuts do kick in. congressman tom price pushing the president to balance the budget and says this new report is proof we can't do that by hiking taxes. what about that? we're still going to be deep into the red. >> good to be with you. the president has put forward for different budgets,...
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Feb 12, 2013
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current account deficits. it's come down along way and is no longer what i regard as on a sustainable course. so i feel that we have made, we have made progress in that regard. let me take a quick pass at a completely different question on negative home equity. i'm not going to get into the question of principal reduction, but we have the federal reserve, has been quite concerned about negative equity, about the lingering problem in the housing sector. and i think i'm as i mentioned in my prepared remarks, negative equity and diminished equity makes it harder for homeowners to gain access to credit come is one of the things that's really a head when to the economy and and is also probably continuing the impact of monitor policy. and we put forward a number of suggestions last year any white paper, and have worked with many groups and other parts of the government to try to think about what can be done. i think the changes that have been made to the h.a.r.p. program to make it easier for households to refinance
current account deficits. it's come down along way and is no longer what i regard as on a sustainable course. so i feel that we have made, we have made progress in that regard. let me take a quick pass at a completely different question on negative home equity. i'm not going to get into the question of principal reduction, but we have the federal reserve, has been quite concerned about negative equity, about the lingering problem in the housing sector. and i think i'm as i mentioned in my...
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that results in a lower deficit as you have reported to us. by 2015, the deficit is projected to be $430 billion, the lowest you project over 10 years. that's slightly below the highest deficit president bush ever had in his eight years. and you have gpped growth projected at 3.%, last year was 2.2. but after 2015, three years from now, the deficits start a rise again, increasing every single year almost 10% a year and would more than double over the following eight years to $978 billion, is that correct? >> yes, that's right. >> and you don't see unless something changes, any improvement in the outyears but your report would indicate that your report the upward trajectory -- and is that an unsustainable path? >> as others have said, debt cannot rise indefinitely as a share of g.d.p. and our projections show debt rising relative to g.d.p. in the back half of this coming decade. >> so i think -- and it increases the risk as bowles and simple son told us was inevitable if we don't change this unsustainable path, would you agree? >> in the longer
that results in a lower deficit as you have reported to us. by 2015, the deficit is projected to be $430 billion, the lowest you project over 10 years. that's slightly below the highest deficit president bush ever had in his eight years. and you have gpped growth projected at 3.%, last year was 2.2. but after 2015, three years from now, the deficits start a rise again, increasing every single year almost 10% a year and would more than double over the following eight years to $978 billion, is...
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Feb 5, 2013
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they are not sure they want to use that money to lor lower the deficit. that is one of the issues that will need to be resolved as the president and congress workout this deal to avoid this sequester, gregg. gregg: the republicans didn't win the last tax battle. we'll wait and see. wendell goler live at the white house. thank you. martha: there are new questions today about the biggest gas price skwrupl nap years in some states. what is going on out there? we'll have new details and what might be the latest pain at the pump. . . . ..
they are not sure they want to use that money to lor lower the deficit. that is one of the issues that will need to be resolved as the president and congress workout this deal to avoid this sequester, gregg. gregg: the republicans didn't win the last tax battle. we'll wait and see. wendell goler live at the white house. thank you. martha: there are new questions today about the biggest gas price skwrupl nap years in some states. what is going on out there? we'll have new details and what might...
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they are not sure they want to use that money to lor lower the deficit. that is one of the issues that will need to be resolved as the president and congress workout this deal to avoid this sequester, gregg. gregg: the republicans didn't win the last tax battle. we'll wait and see. wendell goler live at the white house. thank you. martha: there are new questions today about the biggest gas price skwrupl nap years in some states. what is going on out there? we'll have new details and what might be the latest pain at the pump. . . . .. martha: we're working on getting more information on u.s. gold medalist lindsey vonn. she is a four-time world champion. the event that was going on in austria, she had a crash. she said it was very foggy. it was delayed a couple hours. three out of the other four top racers did not finish the race. on the left-hand side of the screen you can see her being airlifted. when she got up, she stumbl.
they are not sure they want to use that money to lor lower the deficit. that is one of the issues that will need to be resolved as the president and congress workout this deal to avoid this sequester, gregg. gregg: the republicans didn't win the last tax battle. we'll wait and see. wendell goler live at the white house. thank you. martha: there are new questions today about the biggest gas price skwrupl nap years in some states. what is going on out there? we'll have new details and what might...